JAMIE CARR: Purple Group shows how to beat the blues
Purple’s EasyEquities business grew its funded retail investment accounts 86%
It is a great tribute to human ingenuity in the face of adversity to see the amount of pivoting going on during the pandemic. As one avenue is closed, another opens, and one of the more unexpected trends is the number of people who have been stuck on furlough who have decided that while they may previously have been a barman, now that pulling pints is out of the question it’s time to relaunch themselves as a derivatives trader.
This is not guaranteed to end well, as was seen when the fishermen of Iceland decided to put down their nets and pile into investment banking, but it’s certainly good news for the Purple Group, whose EasyEquities business grew its funded retail investment accounts 86% to 260,885. The company’s aim was to democratise the investment experience that had previously appeared intimidating and unaffordable, via a digital investment platform that is easy to use, comprehensible and low cost, whether you want to manage your portfolio yourself or get it done for y...